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Monday 1 April 2019

Sibling convinced parent to open loan under parents name. Refusing to pay back parent after a few months of payments. ~$100k -CA

I have a brother who my family no longer talks to due to other issues, but I recently found out that my parents have been paying off a loan my brother convinced them to open under the promise of paying off the loan. Basically my brother had almost $100k racked up in credit debt and wanted to consolidate the debt via a loan my parents pulled out under their name since he kept getting turned down at banks. After 6 months of steady payments my brother has not made a payment to the loan since, and my parents have been stuck paying it off for the last couple/few years. Is there anything my parents can do to get that money back? Or at least have the remaining ~20k put under his name?

Location: California



Written By: xKRx
Source: https://ift.tt/2FNT0B8

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